Quanta Services (NYSE:PWR) Price Target Increased to $286.00 by Analysts at B. Riley

Quanta Services (NYSE:PWR) had its price objective increased by equities researchers at B. Riley from $246.00 to $286.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. B. Riley’s target price would suggest a potential upside of 11.57% from the stock’s current price.

PWR has been the subject of a number of other research reports. KeyCorp began coverage on Quanta Services in a research note on Wednesday, January 10th. They set a “sector weight” rating for the company. DA Davidson upped their price target on Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Truist Financial initiated coverage on Quanta Services in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price objective on the stock. Robert W. Baird increased their target price on Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a research report on Friday. Finally, TD Cowen upped their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $255.85.

Quanta Services Trading Up 0.5 %

NYSE PWR traded up $1.33 during trading on Friday, hitting $256.33. The stock had a trading volume of 969,251 shares, compared to its average volume of 934,760. The stock has a market capitalization of $37.52 billion, a price-to-earnings ratio of 51.16 and a beta of 1.10. The stock has a 50 day simple moving average of $250.69 and a 200 day simple moving average of $214.43. Quanta Services has a one year low of $153.74 and a one year high of $265.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.21. The company had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The firm’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.54 EPS. Sell-side analysts predict that Quanta Services will post 7.63 earnings per share for the current year.

Insider Transactions at Quanta Services

In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the sale, the director now directly owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total value of $2,271,531.32. Following the sale, the director now owns 7,486 shares in the company, valued at approximately $1,776,502.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Donald Wayne sold 595 shares of Quanta Services stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total value of $142,567.95. Following the transaction, the executive vice president now directly owns 41,954 shares of the company’s stock, valued at approximately $10,052,597.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,125 shares of company stock worth $11,270,215. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Private Ocean LLC purchased a new position in Quanta Services during the first quarter worth $26,000. Salomon & Ludwin LLC purchased a new position in Quanta Services in the 1st quarter valued at about $26,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Quanta Services during the fourth quarter worth about $34,000. Grove Bank & Trust boosted its position in Quanta Services by 75.6% during the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after acquiring an additional 68 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its stake in Quanta Services by 47.3% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after buying an additional 52 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company's Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.